For those who think they don’t have enough money to start investing, or feel like high inflation is keeping them behind on their investments, legendary investor Warren Buffett has some great advice that anyone can follow.
Buffett strongly encourages people to invest in themselves, saying, “Investing in yourself is the best thing you can do. Whatever develops your talent, no one can tax it or tax it on you.” You can’t take that away from someone.”
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The idea is that regardless of whether government debt gets further out of control or whether the dollar weakens significantly, by being the best in your chosen field, people can say, “In return for what I give you, I’ll give you a share of what we produce,” and you’ll maintain a strong earning power.
For example, a good plumber or programmer will always have a slice of the economic pie because someone will always need their services.
Anyone can follow Buffett’s advice, but it may be difficult to emulate his level of success.
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Buffett first founded an investment partnership named Buffett Partnership Limited in 1956, which he eventually berkshire hathaway (NYSE:BRK) Currently valued at nearly $900 billion, he has amassed an impressive net worth of approximately $139 billion.
This accomplishment is even more impressive considering he has donated over $51 billion to charity to date.
Of course, his income didn’t come overnight, but rather the result of patient compound interest, and he once said, “Life is a product of compound interest.”
To invest in yourself and reap the benefits of compound interest, it makes sense to start as early as possible and keep doing so, following the advice of my late business partner Charlie Munger: Formulation: Do not interrupt unnecessarily. ”
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This article: “Warren Buffett talks about the “best investments” to beat stubborn inflation.” It’s a ‘tax-free’ bet anyone can make” originally appeared on Benzinga.com.
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